Novanta (NOVT) FY2018 results: revenue $614 million, up 17.8% on the year
Novanta Inc. (NOVT) reported revenue of $614 million for fiscal 2018, the year ended 31 December 2018, up 17.8% on the year before. Net income was $49 million, down 18.2%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$614 million
+17.8% on the year
FY2011FY2018
Operating margin
11.6%
11.0% a year earlier
FY2011FY2018
Net income
$49 million
-18.2% on the year
FY2011FY2018
Diluted EPS
$1.43
+26.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
614
521
385
+17.8%
Cost of revenue
353
301
222
+17.3%
Gross profit
262
221
162
+18.6%
Gross margin
42.6%
42.3%
42.2%
Research and development
51.0
41.7
32.0
+22.4%
Selling, general and administrative
116
102
81.3
+14.0%
Operating income
71.0
57.6
33.0
+23.4%
Operating margin
11.6%
11.0%
8.6%
Interest expense
9.8
7.2
4.6
+37.0%
Pre-tax income
61.3
76.1
32.5
-19.5%
Income tax
10.2
13.8
10.5
-26.2%
Effective tax rate
16.7%
18.2%
32.3%
Net income
49.1
60.1
22.0
-18.2%
Net margin
8.0%
11.5%
5.7%
Diluted EPS
$1.43
$1.13
$0.63
+26.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
89.6
63.4
47.8
+41.4%
Capital expenditure
14.7
9.1
8.5
+61.2%
Free cash flow
75.0
54.3
39.3
+38.1%
Free cash flow margin
12.2%
10.4%
10.2%
Cash from investing
-45.6
-177
-12.9
Cash from financing
-60.2
143
-23.2
Depreciation and amortisation
37.1
30.8
21.0
+20.5%
Share-based compensation
7.7
5.5
4.3
+40.4%
Buybacks
5.8
0.4
1.6
+1,481.1%
Diluted shares, weighted
35m
35m
35m
+0.5%
Shares outstanding at period end
35m
35m
34m
+0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
368
312
259
+18.2%
Redeemable equity
n/a
46.9
n/a
Debt
207
235
77.9
-11.6%
Finance lease liabilities
7.3
n/a
n/a
Other liabilities
137
134
88.8
+2.3%
Total liabilities and equity
720
727
426
-1.0%
Fixed assets
65.5
61.7
35.4
+6.1%
Goodwill
218
211
108
+3.2%
Intangible assets
143
155
61.7
-7.8%
Cash and equivalents
82.0
100
68.1
-18.0%
Receivables
84.0
81.5
63.8
+3.0%
Inventory
105
91.3
59.7
+14.8%
Other assets
22.8
26.1
28.7
-12.9%
Total assets
720
727
426
-1.0%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.